the ghost cities job was to build lots of shit to keep people busy so they dont rebel, the fact that no one wants to live in them is secondary to the true mission.
China ChiCom News Thread
- Thread starter LordsFire
- Start date
the ghost cities job was to build lots of shit to keep people busy so they dont rebel, the fact that no one wants to live in them is secondary to the true mission.
Arlos
Sad Monarchist
I suspect this is a case of urbanite intellectual fantasy of nature meet real nature.
It’s kind of funny tbh.
Abhishekm
Well-known member
Thats the thing though. From the video every flat was successfully sold. Its just not many moved in after buying them. People probably bought the property like a speculative commodity or just a physical asset with likely no intention of ever living there.
Terthna
Professional Lurker
I posted a video that talks about this on the previous page, but the real estate market is seen in China as the only viable opportunity for investment. People buy and sell property for ludicrous amounts of money over there, and it's only a matter of time before the bubble finally bursts; likely taking out China's entire economy in the process.
Abhishekm
Well-known member
Kinda sad to be honest. Those places look neat. I mean building standards being what they are it would probabaly be a coin flip whether they are safe or not but they do atleast look nice.
Edit: Also who buys a place with a dedicated garden plot as its main theme and then never hires a gardening service to take care of it for them? Like geeze.
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As a 2nd generation immigrant of Chinese heritage, I can confirm from conversations with my parents and grandparents that everything said above is true.
The real estate bubble is very close to bursting and when it does big shit will hit the fan at top speed.
And the ghost cities are just construction projects to keep people employed, similar to the New Deal except over a longer period of time.
On the bright side, all those ghost cities will soon have resident squatters when the PRC economy shatter into a billion pieces with the real estate bubble being burst.
Navarro
Well-known member
Shortly before they collapse. Construction in an environment where:
A. No-one takes pride in their work and has no reason to do anything more than the bare minimum (for typical commie reasons).
B. It's impossible to survive without ignoring the law, hence everyone is corrupt and is constantly giving or taking bribes.
Tends not to be high-quality.
Not to mention that Xi is starting to push neo-Maoism.
DarthOne
☦️
liberty90
Evil Neoliberal Cat
Country can always keep nominal prices of something rising. High enough inflation, and while real value will go down, nominal value and ability to pay back loans should be fine.
But there will come a point where their fraudulent actions create consequences.
Weimar Republic comes to mind.
Arch Dornan
Oh, lovely. They've sent me a mo-ron.
/cloudfront-us-east-2.images.arcpublishing.com/reuters/XODFLFJQLVJP7IN7YYCL37BHPY.jpg)
EXCLUSIVE China’s Ant explores ways for Jack Ma to exit
Ant Group is exploring options for founder Jack Ma to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signalled to the company that the move could help draw a line under Beijing's scrutiny of its business, according to a source familiar...
www.reuters.com
The horse is getting fucked.
The horse has long since prepared for that day.EXCLUSIVE China’s Ant explores ways for Jack Ma to exit
Ant Group is exploring options for founder Jack Ma to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signalled to the company that the move could help draw a line under Beijing's scrutiny of its business, according to a source familiar...
The horse is getting fucked.
His assets are already invested in other companies, to the point he owns over 50% of many of them.
If need be, he can just flee China and set up shop somewhere else like Malaysia or Singapore or Taiwan.
They'd be delighted to have him.
liberty90
Evil Neoliberal Cat
I'm not sure that it's known where Jack Ma is, last I heard there were rumors that he was "disappeared" by internal security? He was showing his opinions outside of accepted democratic centralist (internal party meetings) ways I think.
www.ft.com
The vanishing billionaire: how Jack Ma fell foul of Xi Jinping
Alibaba founder’s dramatic rise and fall illustrates China’s wary embrace of tycoons who power economic growth
www.ft.com
Arch Dornan
Oh, lovely. They've sent me a mo-ron.
Border situation cannot be swept under carpet, says Indian envoy to China
Comments indicate difference in how New Delhi and Beijing view the way forward to restore normalcy in the relationship
Joe Biden Set To Approve First Arms Sale to Taiwan Amid China Threat
The Pentagon is expected to notify Congress of the sale of 40 self-propelled howitzers to the self-ruled island, which could take delivery starting 2023, a Taiwanese newspaper reports.
www.newsweek.com
Sleepy Joe got fucked by Trump's leftovers.
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Arch Dornan
Oh, lovely. They've sent me a mo-ron.
Who does it? China or the US? I don't wanna watch the video
Arch Dornan
Oh, lovely. They've sent me a mo-ron.
The Australians.
Australia cancels Victoria state's Belt and Road deals with China
Australia said on Wednesday it has cancelled two deals struck by its state of Victoria with China on cooperation with Beijing's flagship Belt and Road Initiative, a far-reaching infrastructure and soft power programme.
Lazer Raptor
Marxist-Lesbianist
This is pure copium.
Let us examine the first assertion: that there is no incentive to do more than the bare minimum or take pride in your work. This is nonsense, even if one was talking about the USSR's command economy, but it is ludicrous when discussing the modern Chinese economy. For all intents and purposes modern Chinese firms deploy the same incentive structures as any other capitalist firm and operate according to the same logic.
The second assertion is also incorrect in that it is very much possible to survive without breaking the law, even if local corruption is an enduring problem for Chinese authorities. The CCP owes its continued legitimacy to the enormous increase in living standards it has delivered to a substantial portion of the Chinese population (even if large portions of the population are being left behind and inequality is soaring). The owners of construction firms are not poor rural farmers barely scraping by, and their workers similarly are likely making enough to not have to resort to criminal activity.
Lastly, as usual the assertion that Xi is sone sort of neo-Maoist remains the fever dream of delusional Western Marxist-Leninists and rightists. He isn't about to launch a Cultural Revolution or suddenly nationalize all the businesses and declare the re-implementation of collective farming and a command economy, and was broadly considered to be the "liberal" as opposed to the "neo-Maoist" and "nationalist" Bo Xilai back in the day. Even Xilai's radicalism was overstated to be honest, there is little to no chance CCP leadership significantly diverges from the methods that have worked so well for them for 50 years.
Sadness...
www.theblockcrypto.com
According to Xinhua, a Chinese State News Agency, so you know its reliable, there have been three incidents at coal mines in the Xinjiang Province (or West Turkestan for you Islamist loving Uighers out there) ranging from flooding to gas explosions over hte past several weeks. This resulted in like a dozen deaths and even more people trapped but more importantly it caused local coal power stations to reduce their output to data mining centers located within the region. Bitcoin data mining within China is largely powered by coal power plants during the dry season in locations such as Xinjiang, while during the wet seasons its powered by hydroelectric power in other regions.
Sadly this power intensive data mining for bitcoin, if not over already (the article is backdated to April 16th) will likely be over soon and normal bitcoin mining may soon resume (alongside more conventional mining in Xinjiang which is apparently far less safe).
China coal mine accidents may be behind bitcoin's hash rate drop
Recent security incidents in several coal-mines in China appear to have had a ripple effect on bitcoin's mining hash rate.
According to Xinhua, a Chinese State News Agency, so you know its reliable, there have been three incidents at coal mines in the Xinjiang Province (or West Turkestan for you Islamist loving Uighers out there) ranging from flooding to gas explosions over hte past several weeks. This resulted in like a dozen deaths and even more people trapped but more importantly it caused local coal power stations to reduce their output to data mining centers located within the region. Bitcoin data mining within China is largely powered by coal power plants during the dry season in locations such as Xinjiang, while during the wet seasons its powered by hydroelectric power in other regions.
Sadly this power intensive data mining for bitcoin, if not over already (the article is backdated to April 16th) will likely be over soon and normal bitcoin mining may soon resume (alongside more conventional mining in Xinjiang which is apparently far less safe).